SPVs
Pool investors into one vehicle for one deal, using a UK bare trust or a Delaware Series LP. Odin sets it up same-day, onboards investors through one link, and handles tax documents, distributions and the exit. From £4,000 / $6,000 per deal.
Odin at a glance
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Detail
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What it is
A digital SPV and fund administration platform for private market investing
joinodin.com
Legal name
Join Odin Limited, trading as Odin and Join Odin
Companies House, no. 12849405
Founded
2020 in London, by Patrick Ryan and Mary Lin
Companies House, no. 12849405
Offices
London (headquarters), plus a space in New York
joinodin.com
UK regulation
Appointed Representative (FRN 962398) of Hurricane Capital UK Limited, which is authorised and regulated by the FCA (FRN 489839)
FCA register, FRN 962398
Custody
Client money on UK deals is held by Thompson Taraz Depositary, an FCA-regulated custodian
FCA register, FRN 962398
US vehicles
Each US deal is a Series of Join Odin Master LP, a Delaware limited partnership
SEC EDGAR, Join Odin Master LP
Products
SPVs, Founder Rollup and fund administration
joinodin.com
SPV structures
UK bare trust (S/EIS-compatible) and Delaware Series LP
joinodin.com/products/spv
Currencies
GBP, EUR and USD
joinodin.com/products/spv
Customers
Angel syndicates, solo GPs and emerging managers, VC firms, independent sponsors and founders
joinodin.com
Scale
2,500+ vehicles administered, $700m+ in assets, investors and managers in 110+ countries
Odin, September 2026
Price
SPVs from £4,000 / €5,000 / $6,000 per deal, charged once. No platform carry
joinodin.com/products/spv
Speed
Most deals live the same day
joinodin.com/delaware
Backed by
Haatch, O'Shaughnessy Ventures, Material V, IPQ Capital and around 250 angels
TechCrunch, May 2023
Contact
hello@joinodin.com
@joinodin
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Three products. One back office.
Products
Odin runs the legal structure, investor onboarding, payments and post-close admin, so you can spend your time on the investing.
Founder Rollup
For founders raising from angels and operators. Everyone invests through one SPV, so the cap table gets one line instead of forty. Cash is collected when investors commit, before the round's legals are final. From £4,000 per round.
Fund administration
Accounting, LP onboarding, capital calls, reporting and compliance for venture funds on English LP or Delaware LP structures. Self-serve from $15,000 a year, or full service with a dedicated fund accountant from $25,000. Launching soon.
Who uses Odin
Angel syndicate leads
Angel syndicate leads Run deal-by-deal syndicates without forming a company or opening a bank account each time. Set carry and fees per investor. UK investors keep their S/EIS relief on the bare trust.
Solo GPs and emerging managers
Build a track record one SPV at a time, earning carry as you go. When you raise a fund, the deals, the data and your investors are already on Odin.
Venture capital firms
Spin up an institutional LP vehicle in hours to double down on a winner, run a co-investment or buy into a secondary.
Independent sponsors and search funds
Independent sponsors and search funds Use a Delaware LP with no restriction on asset class or geography, built for regulated advisers, exempt reporting advisers and deal-by-deal sponsors.
Founders
Bring 40 or more angels into a round as one line on the cap table. Collect money as investors commit, and keep full voting control on everything except a share sale.
Investors
Invest through one link: commit, verify your identity and pay in a single flow. Documents, tax forms and distributions land in one place.
How Odin works
Tell us about your deal
Pick a UK bare trust or a Delaware Series LP. Odin prepares the legal documents and sets up the vehicle, usually the same day. There's no new company or bank account for you to open.
Included
What every Odin deal includes
One fee covers the admin from formation to wind-down.
Vehicle set-up on a UK bare trust or Delaware Series LP
Legal documents for the vehicle and every investor
Investor onboarding with KYC and AML checks
Payments in GBP, EUR and USD, reconciled to each investor
Tax documents: K-1s on Delaware deals, S/EIS certificates on UK deals
FATCA and CRS reporting
Carry, fees and side letters set per investor
Distribution and waterfall calculations
Exit and wind-down
A named account manager for every deal
UK bare trust or Delaware Series LP?
Question
UK bare trust
Delaware Series LP
Best for
UK and European deals, and UK investors who want S/EIS relief
US deals, institutional LPs and cross-border raises
Legal form
Nominee holding: each investor is the beneficial owner of their own shares
A ring-fenced Series of Join Odin Master LP
Sponsor permissions
None needed for most syndicate leads
US RIA or ERA status, or AIFM cover for UK and EU sponsors
Investor eligibility
Self-certified sophisticated or high-net-worth investors
Accredited investors (3(c)(1)) or qualified purchasers (3(c)(7))
S/EIS relief
Available on qualifying investments
Not available: relief doesn't pass through partnerships
Tax documents
S/EIS certificates and proof of investment
Form 1065 and a Schedule K-1 for every investor
Exit decisions
Majority vote of investors
Sponsor decides; the GP signs
Where the money sits
Client-money account operated by Thompson Taraz, an FCA-regulated custodian
The Master LP's multi-currency account, reconciled to each Series
Currencies
GBP, EUR, USD
GBP, EUR, USD
Time to launch
Reviewed within about 24 hours; same-day for urgent deals
Under two hours; most Series set up the same day
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Regulation and custody
Regulated in the UK
Join Odin Limited (FRN 962398) is an Appointed Representative of Hurricane Capital UK Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 489839). Hurricane Capital UK Limited was called Talbot Capital Limited until July 2026.
Investor money sits with a custodian
On UK deals, investor cash is held in a ring-fenced client-money account operated by Thompson Taraz Depositary, an FCA-regulated custodian that holds the payment mandate. If Odin stopped operating, Thompson Taraz would continue administering the vehicles.
US vehicles, filed with the SEC
US deals are Series of Join Odin Master LP, a Delaware limited partnership. Interests are offered under Regulation D, with a Form D notice and state filings for each Series.
Every investor is checked
Investors pass KYC and AML checks under the UK Money Laundering Regulations 2017. UK investors self-certify as sophisticated or high-net-worth and take an appropriateness test. US deals add accreditation checks.
Private investing carries risk
Investing in private companies is high risk. You could lose all the money you invest, and you may not be able to sell your stake. Odin doesn't give investment, legal or tax advice.
Pricing
Simple, transparent pricing
No platform carry. No annual fees on standard SPVs. Some events are priced separately, including extra closes, distributions, secondary transfers, notarisation and branded entities.
From$6,000
From £4k / €5k / $6k per deal, charged once at close. A percentage of capital raised, starting at 2.5%, with a minimum and an agreed cap. Lifetime admin, tax documents and wind-down included.
From$6,000
From £4k / €5k / $6k, one-off, per round. Or always-on from £6.5k / €7.5k / $8.5k a year, with one rolling close per quarter. Minimum investor ticket $1,000.
From$15,000
From $15k / year, self-serve: accrual accounting, AI-assisted onboarding and drawdowns, LP portal, tax reporting and more. Full service adds a dedicated fund accountant, from $45k a year.
Trusted by investors, founders and managers in 100+ countries
0 + vehicles administered
0 M+ USD in assets administered
0 + countries
0 + founders
0 + asset managers
OUR CUSTOMERS
Serving venture firms globally
How Odin compares
Odin vs AngelList
AngelList runs US Delaware vehicles in US dollars. Its SPVs cost $8,000 plus a $2,000 regulatory fee, and every investor must be US-accredited. Odin adds a UK bare trust, takes GBP and EUR as well as USD, and keeps S/EIS relief open to UK investors.
Odin vs Carta
Carta is built around cap tables and fund administration. Its UK SPV services are only for FCA-regulated firms and their appointed representatives, and pricing is by quote. Odin's bare trust needs no permissions from most leads, and the price is published up front.
Odin vs Sydecar
Sydecar forms Delaware LLCs in US dollars, for 2% of capital raised (minimum $2,500, maximum $12,500) plus a $2,000 regulatory fee. Odin uses Delaware LPs and UK bare trusts, supports GBP, EUR and USD, and runs fund administration too.
Frequently asked questions
Odin is a London-based platform for launching and administering SPVs and venture funds. It handles the legal structure, investor onboarding, payments and post-close admin for syndicate leads, fund managers and founders. Odin is a trading name of Join Odin Limited.
Odin was founded in 2020 by Patrick Ryan and Mary Lin. It's headquartered in London and also has a space in New York.
Yes. Join Odin Limited (FRN 962398) is an Appointed Representative of Hurricane Capital UK Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 489839). Client money on UK deals is held by Thompson Taraz Depositary, an FCA-regulated custodian.
SPVs start at £4,000, €5,000 or $6,000 per deal, charged once at close. The fee is a percentage of capital raised, starting at 1.5%, with a minimum and an agreed cap. It includes admin for the life of the vehicle, and Odin takes no carry. Founder Rollups start at £4,000 per round, and fund administration starts at $15,000 a year. The lead, the company or the investors can pay the deal fee.
Most deals go live the same day. A Delaware Series LP can be ready in under two hours. UK bare-trust deals are reviewed within about 24 hours, with same-day review for urgent deals.
For SPVs, a UK bare trust (a nominee structure) and a Delaware Series LP. For funds, English and Delaware LPs are available off the shelf. Odin works with local partners on other domiciles, including Luxembourg, Singapore, Jersey, Guernsey and Cayman.
Yes, on qualifying investments made through Odin's UK bare trust. Each investor stays the beneficial owner of their shares, which HMRC's nominee rules require. Odin sends out the certificates once the company has filed with HMRC. Relief doesn't pass through partnerships, so it isn't available on Delaware LP deals.
Deals run in GBP, EUR or USD. Investors from 100+ countries have backed deals on Odin, and non-UK investors can join a UK bare trust without affecting UK investors' S/EIS claims.
No. Odin charges a flat service fee and takes no platform carry or economics. You set carry and fees yourself, per investor if you want.
Primary rounds from pre-seed to pre-IPO, secondaries, feeders into funds, layered SPVs, independent sponsor deals and search funds. The Delaware Series LP can also hold other private assets, including real estate, credit, crypto and LP interests.
On UK bare-trust deals, investors self-certify as sophisticated or high-net-worth and pass an appropriateness test. On Delaware deals, investors must be accredited investors, or qualified purchasers for 3(c)(7) vehicles. Every investor completes KYC and AML checks.
On UK deals, investor cash sits in a client-money account operated by Thompson Taraz Depositary, an FCA-regulated custodian that holds the payment mandate. If Odin stopped operating, Thompson Taraz would continue administering the vehicles, so an investor's position doesn't depend on Odin alone.
No. Odin is infrastructure, not a marketplace. You bring the investors; Odin sets up the vehicle, onboards them and runs the admin.
Most don't. The UK bare trust is designed so that leads running occasional deals in their own network can use it without permissions of their own. Leads who run deals as a business, charging fees without investing themselves, may need Appointed Representative status. Take your own legal advice.
Yes. Founder Rollup lets a founder bring angels and operators into a round through one SPV, so the cap table shows a single line. Money is collected as investors commit and held by the custodian until the round closes. Founders keep voting control on everything except a share sale.
Yes. Delaware Series LPs get a Form 1065 filing and a Schedule K-1 for every investor, with a target delivery date of 15 March. UK bare-trust deals get S/EIS certificates and proof of investment. Odin also handles FATCA and CRS reporting.
Yes, launching soon. It covers accounting, LP onboarding, capital calls, reporting and compliance. Self-serve software starts at $15,000 a year; full service with a dedicated fund accountant starts at $25,000. Odin can import existing capital accounts and LP data from Carta, AngelList or spreadsheets.
AngelList and Sydecar run US Delaware vehicles in US dollars. Carta focuses on cap tables and fund administration, and its UK SPV services are only for regulated firms. Odin runs UK bare trusts and Delaware LPs in GBP, EUR and USD. Pricing is published per deal, and every deal has a named account manager.
Glossary
A legal vehicle set up to make one investment for a group of investors. The company gets one shareholder instead of dozens.
A group of investors who back deals together, usually deal by deal, led by one person or firm.
The person or firm that finds a deal, sets its terms and invites investors. Usually earns carry.
A UK structure where a nominee holds shares for investors. Each investor remains the beneficial owner of their own shares.
A Delaware limited partnership that can create separate, ring-fenced series. Each Odin US deal is its own Series of Join Odin Master LP.
The share of profits paid to the lead or manager, usually after investors get their money back.
UK tax schemes (Enterprise Investment Scheme and Seed Enterprise Investment Scheme) that give income tax and capital gains relief on qualifying startup investments.
The US tax form a partnership gives each partner, showing their share of income, gains and losses.
Adding investors to an existing vehicle after the first close, instead of setting up a new one.
A request for money investors have already committed to a fund.
A US investor who meets SEC income or net-worth tests for private placements.
A higher US standard, generally $5m or more in investments for individuals. Required for 3(c)(7) vehicles.
US Investment Company Act exemptions. 3(c)(1) vehicles are generally capped at 100 beneficial owners; 3(c)(7) vehicles admit only qualified purchasers.
A UK firm that carries out regulated activities under the responsibility of an FCA-authorised principal firm.
International regimes under which financial institutions report account holders to tax authorities.
Know-your-customer and anti-money-laundering checks that confirm who an investor is and where their money comes from.
Round closing Friday?
Tell us about the deal. Most go live the same day, and a named person stays with you until exit.
Guaranteed response within 24 hours on business days